Schlumberger N.V. (SLB): The Winning Streak Continues

March 8, 2022 11:42:17

Schlumberger N.V. (NYSE:SLB) traded today at a new 12-month high of $45.10. This new high was reached on below average trading volume as 6.4 million shares traded hands, while the average 30-day volume is approximately 17.6 million shares.

Schlumberger is the world’s largest supplier of products and services to the oil and gas industry. The company operates its business via multiple groups: reservoir characterization, drilling, production, and Cameron. It is investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of the key industry trends during the next 10 years. Efforts on this front are most visible via the Schlumberger Production Management business, which now accounts for 10% of its revenue.

Based on a current price of $45.00, Schlumberger N.V. is currently 6.4% above its average consensus analyst price target of $42.11.

In the past 12 months, Schlumberger N.V. share prices are bracketed by a low of $24.52 and a high of $45.10 and are now at $45.00, 84% above that low price.

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